Ratnamani Metals & Tubes Ltd. (RATNAMANI) AI Stock Analysis

• Market Cap: ₹169.16B
• Dividend Yield: 0.58%
• Average Volume (3M): 1.37K
• Price to Earnings (P/E): 29.6
• Beta (1Y): 0.72
• Revenue Growth: 1.71%
• EPS Growth: -3.94%
• Country: IN
• Employees: 2,922
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 19.75
• Shares Outstanding: 70,092,000
• 10 Day Avg. Volume: 2,263
• 30 Day Avg. Volume: 1,371
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,606.00
• Price Target Upside: 7.98% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 66 Neutral
• Price Target: ₹2,606.00 ▲(7.98% Upside)

Ratnamani Metals & Tubes Ltd. has a strong financial foundation with robust revenue growth and low financial risk, which significantly supports its stock score. However, technical analysis indicates potential bearish momentum, and the high P/E ratio suggests the stock may be overvalued, contributing to a moderate overall score.

Ratnamani Metals & Tubes Ltd. Business Overview & Revenue Model

Company Description

Ratnamani Metals & Tubes Limited manufactures and sells stainless steel pipes and tubes, and carbon steel pipes in India and internationally. The company's stainless steel products comprise seamless and welded tubes and pipes, and heat exchanger tubes; and instrumentation seamless tubes. It also provides nickel alloy seamless heat exchanger tubes; titanium welded tubes; induction bending; and carbon steel products, such as high frequency electric resistance and submerged arc welded pipes. In addition, the company offers coating solutions comprising external three layer polyethylene/polypropylene coating and dual layer fusion bonded epoxy coating products; and internal coating solutions, such as food grade epoxy / polyurethane / coal tar epoxy / cement lining, and other prevalent coatings. Further, it is also involved in the generation of power by windmills. The company serves oil and gas, thermal power, chemical, fertilizer, sugar, paper, automobile, aeronautics, refinery, nuclear power, petrochemical, water distribution, food and dairy, pharmaceutical, defense, infrastructure, ship building, pumping station, and space industries. The company was incorporated in 1983 and is based in Ahmedabad, India.

How the Company Makes Money

Ratnamani Metals & Tubes Ltd. generates revenue primarily through the production and sale of stainless steel and carbon steel pipes and tubes. The company's key revenue streams include sales to various industries such as oil and gas, petrochemicals, and power generation, where the demand for high-quality, durable piping solutions is critical. Additionally, Ratnamani benefits from its strategic partnerships and long-term contracts with major industrial players, ensuring a steady flow of orders and consistent revenue. The company's ability to innovate and provide customized solutions also allows it to capture niche markets, further contributing to its financial performance.

Ratnamani Metals & Tubes Ltd. Financial Statement Overview

Summary

Ratnamani Metals & Tubes Ltd. demonstrates strong financial performance with consistent revenue growth and a robust balance sheet. The decrease in net profit margin and free cash flow due to capital expenditures slightly impacts the score.

Income Statement

Ratnamani Metals & Tubes Ltd. shows strong financial performance with a consistent increase in total revenue from 2020 to 2025. The gross profit margin has improved significantly, reaching 35% in 2025, indicating efficient cost management. The net profit margin is slightly lower in 2025 compared to 2024, due to a drop in net income, but remains healthy at 10.5%. Revenue growth is robust with a 2.52% increase from 2024 to 2025, reflecting consistent demand and market position.

Balance Sheet

The company's balance sheet is solid, with a decreasing debt-to-equity ratio reaching 0.04 in 2025, highlighting strong equity and low leverage risk. Return on Equity (ROE) is at a reasonable level of 14.95% in 2025, indicating effective use of equity. The equity ratio stands at 74.14%, showcasing robust financial stability and a strong asset base supported by equity.

Cash Flow

Cash flow statements reflect improving operational efficiency with an increasing operating cash flow, reaching INR 5.36 billion in 2025. The free cash flow, however, decreased by 27.31% from 2024 to 2025, indicating higher capital expenditures. The operating cash flow to net income ratio is strong at 0.99, suggesting good cash conversion from profits.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	51.86B	51.86B	50.59B	44.74B	31.22B	25.86B
Gross Profit	18.14B	18.14B	10.37B	14.17B	9.35B	5.24B
EBITDA	8.72B	8.24B	9.56B	7.98B	5.32B	4.86B
Net Income	5.44B	5.44B	6.23B	5.10B	3.23B	3.08B
Balance Sheet
Total Assets	49.06B	49.06B	40.20B	37.80B	29.62B	25.45B
Cash, Cash Equivalents and Short-Term Investments	4.05B	4.05B	2.96B	1.69B	1.75B	3.39B
Total Debt	1.57B	1.57B	1.53B	2.37B	1.57B	2.52B
Total Liabilities	12.41B	12.41B	8.04B	11.04B	7.14B	8.35B
Stockholders Equity	36.37B	36.37B	31.41B	26.04B	22.48B	17.09B
Cash Flow
Free Cash Flow	0.00	2.07B	2.85B	1.69B	-4.27B	-828.05M
Operating Cash Flow	0.00	5.36B	4.98B	3.10B	-2.83B	2.15B
Investing Cash Flow	0.00	-3.97B	-1.45B	-2.08B	4.18B	-3.57B
Financing Cash Flow	0.00	-1.30B	-1.93B	-1.16B	-1.35B	468.06M

Ratnamani Metals & Tubes Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2413.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RATNAMANI, the sentiment is Negative. The current price of 2413.4 is above the 20-day moving average (MA) of 2409.26, below the 50-day MA of 2471.34, and below the 200-day MA of 2724.25, indicating a neutral trend. The MACD of -1.30 indicates Negative momentum. The RSI at 47.48 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RATNAMANI.

Ratnamani Metals & Tubes Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KANSAINER	75 Outperform	₹199.34B	17.59	17.79%	1.01%	0.95%	67.04%
WELCORP	69 Neutral	₹226.44B	11.21	25.57%	0.58%	-12.29%	68.04%
RATNAMANI	66 Neutral	₹169.16B	29.64	―	0.58%	1.71%	-3.94%
MAHSEAMLES	65 Neutral	₹80.00B	9.11	12.26%	1.68%	-1.30%	0.51%
SHYAMMETL	65 Neutral	₹252.94B	27.27	8.60%	0.50%	18.34%	-20.59%
KIOCL	58 Neutral	₹266.13B	-138.87	-11.95%	―	-64.40%	-152.19%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%